Ermenegildo Zegna (NYSE:ZGN – Get Free Report) shares saw an uptick in trading volume on Thursday . 1,821,674 shares changed hands during trading, an increase of 232% from the previous session’s volume of 549,110 shares.The stock last traded at $7.43 and had previously closed at $7.15.
Analysts Set New Price Targets
Separately, Bank of America lowered Ermenegildo Zegna from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $13.00 to $9.80 in a research report on Monday, September 23rd.
Get Our Latest Research Report on Ermenegildo Zegna
Ermenegildo Zegna Stock Up 0.3 %
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Capital World Investors lifted its holdings in shares of Ermenegildo Zegna by 34.6% in the first quarter. Capital World Investors now owns 5,195,013 shares of the company’s stock valued at $76,107,000 after buying an additional 1,335,945 shares during the period. Liontrust Investment Partners LLP acquired a new stake in shares of Ermenegildo Zegna in the second quarter valued at $2,960,000. Capital Research Global Investors acquired a new stake in shares of Ermenegildo Zegna in the first quarter valued at $54,202,000. Public Investment Fund lifted its holdings in shares of Ermenegildo Zegna by 25.9% in the second quarter. Public Investment Fund now owns 3,710,196 shares of the company’s stock valued at $43,929,000 after buying an additional 764,122 shares during the period. Finally, Roubaix Capital LLC acquired a new stake in shares of Ermenegildo Zegna in the third quarter valued at $2,481,000. Institutional investors and hedge funds own 12.91% of the company’s stock.
About Ermenegildo Zegna
Ermenegildo Zegna N.V., together with its subsidiaries, designs, manufactures, markets, and distributes luxury menswear, footwear, leather goods, and other accessories under the Zegna and the Thom Browne brands. It provides luxury leisurewear for men; formal suits, tuxedos, shirts, blazers, formal overcoats, and accessories; leather accessories comprising shoes, bags, belts, and small leather accessories; and fragrances.
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